Education and Career Forum

Hello friends, I want to take loan of Rs. 15 Lacs for my MS course from State Bank of Mysore. I want to know the mode of repayment in details so that I can calculate my EMI. Please tell me immediately. Waiting for your response. Thank you!

The repayment mode for the State Bank of Mysore Education Loan scheme can vary based on the terms and conditions of the loan agreement, as well as the borrower's preferences. Typically, borrowers will have a repayment holiday period, where they are not required to make payments during their course of study, followed by a repayment period that begins once the course is completed or the borrower starts working.

During the repayment period, the borrower will have to make monthly payments, or EMIs, to repay the loan amount. The EMI amount will depend on several factors, including the loan amount, interest rate, and repayment tenure. The EMI can be calculated using an EMI calculator available on the bank's website or through other online tools.

The State Bank of Mysore Education Loan scheme may offer different modes of repayment, such as Electronic Clearing Service (ECS), post-dated cheques, or online payments through the bank's website or mobile app. It is important to check with the bank to determine the specific repayment options available for the loan, and to select a mode of repayment that is convenient and reliable for the borrower.